California Government Code

§ 6505.5

GOV § 6505.5 Effective Jan 1, 2000Div. 7 · Title 1 · Ch. 5 · Art. 1

Statute text

If a separate agency or entity is created by the agreement, the agreement shall designate the treasurer of one of the contracting parties, or in lieu thereof, the county treasurer of a county in which one of the contracting parties is situated, or a certified public accountant to be the depositary and have custody of all the money of the agency or entity, from whatever source. The treasurer or certified public accountant so designated shall do all of the following:

(a)Receive and receipt for all money of the agency or entity and place it in the treasury of the treasurer so designated to the credit of the agency or entity.

(b)Be responsible, upon his or her official bond, for the safekeeping and disbursement of all agency or entity money so held by him or her.

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Legislative history

Amended by Stats. 1999, Ch. 83, Sec. 65. Effective January 1, 2000.